Fosun International Acquires Manhattan Office Building For $725M


Fosun International Ltd. says the company has signed an agreement to purchase an office building located in Manhattan, New York for US$725 million.

The property, called One Chase Manhattan Plaza, is a 60-story, 2.2 million square foot grade-A office building with 5 lower levels on a 2.5 acre plaza.

Previously, it was the world headquarters of Chase Manhattan Bank.

The office building has never changed its ownership since it was built it in 1961 with David Rockefeller playing a leading role.

In 2009, One Chase Manhattan Plaza was designated as a landmark by the New York City Landmarks Preservation Commission.

Situated in the core area of downtown Manhattan, the building connects with 7 subway lines. The reconstruction of the World Trade Center and the upgrading of Fulton Street transportation hub will create a new business section that will enhance the value of the property.

In addition, JPMorgan Chase Bank will remain as an important tenant in the building.

 
China Expert network

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